Out of that money, he’d also have a lot of business expenses he’d have to pay, like for an agent, accountant, travel, etc.
That said, many entertainers never quite get over the urge to pinch pennies, because they can never be sure the when the next dry spell will hit. William Shatner for example has said that throughout his career he has never really felt 100% secure in the expectation that there would always be more work available to him.
$500k is Wall Street “working stiff” money. Flying first class and being comfortable…in 1987. I’m talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars buddy. A player! Or nothing!
For the young SNL performers who were members of the abominable Jean Doumanian S6 cast, I hope they continued to watch their pennies if only for their own sakes.
And the one singled out for stardom did not. (A notable word missing from that article is “chainsaw”.)
The exception proves the rule, as they say.
Wow, I never knew that about Charles Rocket. Cut his own throat.
FWIW, I moved to Manhattan in 2001 right out of business school making about $65k (about $90k in current money). I wasn’t that much older than Pete Davidson at the time. That was more than enough to live in a…serviceable…studio in the East Village and enjoy a relatively care-free social life without having to penny pinch that much. Of course much of that social life revolved around $1 draft night at some of the local bars.
That’s a big inflation isn’t it?
I don’t know. Take it up with the BLS:
https://www.bls.gov/data/inflation_calculator.htm
That sounds about right to me. Over 17 years, that averages out to somewhere in the 2.5% per year ballpark. And that feels right to me comparing prices I remember from the early 2000s to now.
I lived in Tokyo for more than 20 years, and while it’s obviously not New York, then I would suspect there may be similarities.
It really depends on your lifestyle. Rent for some places are up to $25,000 per month and more. Choice one of those and you are going to need a side gig. Be willing to not live in a large designer apartment in the center of the city, and rent quickly becomes affordable.
Eat in normal restaurants and don’t fly everywhere first class, you’ll get by.
IIRC, when Diane and Charles were getting a divorce, one paper had broken down a jetsetter lifestyle at $750,000, which was going to be problematic for the land rich but income poor royal family. That was in the mid 90s, it it’s got to be more expensive now.
I lived in Tokyo for more than 20 years, and while it’s obviously not New York, then I would suspect there may be similarities.
It really depends on your lifestyle. Rent for some places are up to $25,000 per month and more. Choice one of those and you are going to need a side gig. Be willing to not live in a large designer apartment in the center of the city, and rent quickly becomes affordable.
Eat in normal restaurants and don’t fly everywhere first class, you’ll get by.
IIRC, when Diane and Charles were getting a divorce, one paper had broken down a jetsetter lifestyle at $750,000, which was going to be problematic for the land rich but income poor royal family. That was in the mid 90s, it it’s got to be more expensive now.
What’s a “serviceable” studio? When I think “studio,” I think of Korben Dallas’ room in The Fifth Element. Although, I’ve visited a colleague’s real studio in Chicagoland once. The front door opened into a bedroom, with a small kitchen and a closet toilet.
These are studios, right?
In California (Bay area) that would practically be considered low income (currently 83K annually for a family of four is considered low income for NYC by the federal government).
IIRC, his futuristic space apartment was a single room with a space kitchenette and a sort of space-Murphy-bed/space-futon thing to sleep on. So yes, that was technically a studio apartment.
A studio is essentially a single room, usually with a separate bathroom and a kitchen area. Sometimes the bed might be in an alcove off the main room. I think mine was about 400 sq ft. It also had the standard Manhattan view of the building next door.
Basically think of it like a big dorm room.
It’s not terrible if you’re single and live by yourself. But you can’t really entertain guests and it can get a bit stifling if the weather is crappy for any length of time.